Borrowers that require short term financing like the loans we offer on our platform usually means that they require the funds quickly. It is also what differentiates P2P lenders from traditional financial institutions.
The time taken between a completed loan application to credit assessment, loan approval and finally borrower acceptance can happen in the matter of days and often simultaneously together with other applications.
Borrowers could take minutes, days or weeks to accept a loan offer and once they do, we immediately publish the fact sheet for investors to review. We try as much as possible to give notice the day before crowdfunding so that you'd have time to top up your available balance.
Although there is the option to exhaust your balance into a loan, this leaves you with no balance to participate in other upcoming loans.
Hence, to avoid the hassle of rushing to deposit money into your investor account, or missing out on a good investment opportunity because of insufficient account balance, we recommend that you maintain a healthy available balance, especially since the Auto-invest 3.0 feature has been launched.
For some investors who invest between $100 and $500 per loan, we recommend a balance of at least $3,000 to ensure sufficient funds for the loan volume. For investors who invest between $500 and $1,000 per loan, a balance of at least $5,000 is recommended.